Molson Coors Beverage (NYSE:TAP) Stock Rating Upgraded by Barclays

Barclays upgraded shares of Molson Coors Beverage (NYSE:TAP - Free Report) from an underweight rating to an equal weight rating in a report published on Thursday, MarketBeat Ratings reports. The firm currently has $62.00 price target on the stock, up from their prior price target of $56.00.

TAP has been the subject of several other reports. UBS Group raised their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. BNP Paribas began coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a "neutral" rating and a $64.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and raised their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, Morgan Stanley raised their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.67.

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Molson Coors Beverage Price Performance

Shares of TAP traded up $0.92 during trading hours on Thursday, reaching $59.68. The stock had a trading volume of 1,666,676 shares, compared to its average volume of 1,925,643. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a market capitalization of $12.09 billion, a PE ratio of 11.15, a PEG ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company's 50-day moving average is $57.08 and its two-hundred day moving average is $57.31.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. The ex-dividend date is Thursday, February 27th. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.15%. Molson Coors Beverage's dividend payout ratio (DPR) is currently 35.14%.

Institutional Trading of Molson Coors Beverage

Large investors have recently made changes to their positions in the company. Clark Estates Inc. NY grew its stake in shares of Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company's stock valued at $3,451,000 after buying an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock valued at $2,046,000 after buying an additional 563 shares during the period. Unified Investment Management acquired a new stake in shares of Molson Coors Beverage in the 4th quarter valued at about $871,000. US Bancorp DE grew its stake in shares of Molson Coors Beverage by 103.9% in the 4th quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after buying an additional 9,825 shares during the period. Finally, Wilsey Asset Management Inc. boosted its stake in Molson Coors Beverage by 1.6% during the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock valued at $31,557,000 after purchasing an additional 8,679 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.